7 Ways To Generate $500 in Monthly Passive Income
Every person would like to get some passive income apart from the main business, but that’s not very easy. We are listing here seven ways to generate passive income from different activities. You can perform them from any country and while doing any other primary work.
The favourite freelancing job of blogging is very important in the internet based businesses. Based on your skills and experience, you can earn good money from blogging. Writing blogs, articles and website content for clients is all about blogging. There are many freelancing sites where you can get the blogging work.
People who love to travel all over the world find blogging and e-books as their source of income. As you go on learning new things, if you create e-books and sell them on your blog or site, it generates a good amount. It applies to any knowledge area, and you have to target specific niche to get a good price for your e-books.
Affiliate Marketing is another way of earning by selling/recommending different products. If you have your blog, you can add affiliate marketing partner links with your content. When the hotel rooms or any other affiliate product gets sold, you get a certain commission from the providers.
Every single business today needs a website. If you are good at creating websites using nice looking templates, you can do that from any place. It is an entirely virtual work, and you can deliver great websites and blogs. Your clients can be small businesses, people requiring personal blogs and Startups.
Monetize your Blog or YouTube Channel
One way to earn is having your blog and getting advertisements on it through channels like Google AdSense. If you have a travel blog with a large number of visitors and you are a digital nomad, then this can be your primary source of income.
The same thing applies to YouTube channel also. You have to create your channel, add lots of videos to it and increase the number of followers. The paid Ads on your videos will make some money for you. The content, topic, and followers are important to get money through the website and video channel.
Virtual Assistant (VA) or Virtual Admin jobs
Many people need VA to complete some online tasks, and these tasks can be done in your spare time also. As the customers are from all over the world, you can find customers who can match with your available time slots. The hourly rates are good, and it is easy to get these jobs if you have good communication skills.
Setting up an e-commerce store where you can sell some niche products is a good idea. Don’t set up a huge online store with hundreds of products as then it becomes your primary business. You can sell small niche items and can earn some good money through this channel. The online store will require physical work related to the delivery of items. Alternatively, you will have to outsource that activity.